Sarkari yojana: Around 7.65 crore people of the country have invested in this government scheme. This government scheme gives pension up to Rs 60,000 for a lifetime. Atal Pension Yojana (APY), the major social security scheme of the Government of India, has set a new record by April 2025. According to the government report, so far more than 7.65 crore people have joined this scheme and its total balance has been Rs 45,974.67 crore.
Women’s participation increased
The participation of women in this scheme is also increasing continuously. Currently, about 48% of it is women. Not only this, the new nominee in the financial year 2024–25 was more than 55% women.
What is Atal Pension Yojana?
The Atal Pension Yojana was started on 9 May 2015 and was implemented from 1 June 2015. Its purpose was to provide financial security to the unorganized sector workers after retirement. Under this scheme, any Indian citizen who is between 18 and 40 years old can be involved. After retirement, they get a guaranteed pension ranging from Rs 1,000 to Rs 5,000 monthly from the age of 60 years.
Special things of plan
Minimum investment period: 20 years
Eligible people: Only those who do not pay income tax (Rules apply since 1 October 2022)
Contribution: Every month, every quarter or every six months can be done through an auto-debit from a bank or post office account.
Pension amonT: Monthly contribution is fixed according to age
Who is running the plan : Pension Fund Regulatory and Development Authority (PFRDA)
Examples of contribution
If a person wants a monthly pension of Rs 1,000, then he will have to give this amount according to age.
At the age of 19: 46 rupees
In 24 years: 70 rupees
In 29 years: Rs 106
In 34 years: 165 rupees
In 39 years: 264 rupees
(This contribution has to be given regularly for 60 years)
At the age of 60, a fund of about 1.7 lakh rupees is created from this scheme.
What happens after death?
If the account holder dies after the age of 60, his spouse gets the same monthly pension. When both die, the nominee is returned to the person.
For whom is this scheme suitable for?
This scheme is especially for those who
Come from low income group
Do not pay income tax.
Works in unorganized sector (such as laborers, small shopkeepers, domestic workers)
EPF or any other government pension scheme is not included.
What will happen when payment delay?
If there is no money in the account and there is no payment till the due date, then a monthly penalty is added to Rs 1 at Rs 100. The amount of this fine is added to the pension fund. If the payment is not made repeatedly and the fund is zero, the government can shut down the plan and withdraw the assistance given on its behalf. The Atal Pension Yojana has become a strong social security source for crores of people in the unorganized sector of the country today. Especially in rural areas and women, its popularity is increasing rapidly.
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